Every Zipp story tagged #YieldCurve, newest first.
The declaration signals Washington is willing to deploy balance-sheet tools to stabilize the long end of the curve, a posture that carries direct implications for risk assets and borrowing costs.
The 30-year yield sits higher today than it did when Fed funds was at 5.5%; with September still a coin flip, BTC at $78K is pricing that policy standoff.
Treasury says it isn't YCC or money printing, but doubling bond buybacks with 30-year yields at 2007 highs reads as a pre-commitment to defend the curve. That's the bitcoin bid.
The 29% FedWatch odds of a July hike look about right: the more useful signal is the 2-year yield pushing the Fed funds rate toward 4.25%, which is the level the market wants by December.
The 10y/2y spread at just 28 bps signals the Fed staying hawkish for longer — non-yielding risk assets like bitcoin face capital rotating back into fixed income through at least 2028.
WatcherGuru
Benjamin Cowen
CoinDesk